Find out what to expect from Coinbase’s Q2 results, how it will affect Coinbase’s share price and how to trade Coinbase’s earnings.
Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....Crypto space may be more sensitive to odds of Trump’s presidencyCoinbase is set to release its quarter two 2024 financial results on 1 August 2024, after the US market closes.Expectations are for Coinbase’s Q2 revenue to almost double to US$1.4 billion, up from the previous US$708 million.
The recent SEC approval of Ethereum ETFs in July also marked another significant milestone for the crypto space, reflecting further expansion of crypto products as the ongoing direction. A look at the Crypto Fear & Greed index showed some dampening in optimism in June this year, but sentiments were quick to rebound into July, seemingly setting the stage for bullish sentiments to persist.
Its subscription and services revenue is expected to remain resilient from higher stable coin revenue and blockchain rewards revenue. Its institutional share remains in focus, with its earlier move to reduce fees aggressively for high-volume traders. 1Q 2024 witnessed a more than two-fold jump in its institutional revenue, but it could be tied to strong traction following the approval of Bitcoin ETFs.
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